China Automotive Systems (NASDAQ:CAAS) Stock Crosses Above 200-Day Moving Average – Time to Sell?

by · The Markets Daily

China Automotive Systems, Inc. (NASDAQ:CAAS – Get Free Report)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $4.28 and traded as high as $4.39. China Automotive Systems shares last traded at $4.31, with a volume of 22,011 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of China Automotive Systems in a research note on Monday. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has a consensus rating of “Hold”.

Read Our Latest Stock Report on CAAS

China Automotive Systems Stock Performance

The business’s fifty day moving average price is $4.24 and its 200-day moving average price is $4.28. The stock has a market cap of $130.33 million, a PE ratio of 3.89 and a beta of 0.86.

China Automotive Systems (NASDAQ:CAAS – Get Free Report) last issued its earnings results on Wednesday, November 12th. The auto parts company reported $0.32 earnings per share (EPS) for the quarter. China Automotive Systems had a net margin of 4.62% and a return on equity of 8.38%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Bridgeway Capital Management LLC increased its stake in shares of China Automotive Systems by 2.9% in the 2nd quarter. Bridgeway Capital Management LLC now owns 301,155 shares of the auto parts company’s stock worth $1,229,000 after purchasing an additional 8,547 shares in the last quarter. Empowered Funds LLC grew its holdings in China Automotive Systems by 8.6% during the first quarter. Empowered Funds LLC now owns 156,258 shares of the auto parts company’s stock valued at $691,000 after purchasing an additional 12,402 shares during the period. Virtu Financial LLC purchased a new stake in China Automotive Systems in the third quarter worth about $86,000. Finally, Citadel Advisors LLC bought a new position in shares of China Automotive Systems in the third quarter worth about $213,000. Institutional investors own 5.17% of the company’s stock.

About China Automotive Systems

(Get Free Report)

China Automotive Systems, Inc (NASDAQ: CAAS) is a leading designer, manufacturer and marketer of power steering systems and related components primarily for the automotive industry in China. The company’s core business centers on hydraulic and electric power steering products, steering columns, steering gearboxes and electronic control units. By integrating research and development, manufacturing and sales, China Automotive Systems aims to deliver high-quality steering solutions that meet the performance and safety requirements of global automakers.

The company’s product portfolio includes traditional hydraulic power steering systems, which have long been favored for their reliability, as well as advanced electric power steering units that offer improved fuel efficiency and enhanced vehicle control.

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